Omega Diagnostics shares rise on US supply deal

Shares of Alva-based Omega Diagnostics Group rose about 6% after it said it signed a supply agreement with an unnamed US-based company offering laboratory testing services “specialising in gut health for improved health outcomes.”

Omega Diagnostics is focused on allergy, food intolerance and infectious disease.

“The agreement, which covers Omega’s microarray-based food intolerance product FoodPrint, is for an initial term of three years and is automatically renewable thereafter on the mutual agreement of both parties,” said Omega.

“This agreement will enable the company to increase traction in the US for FoodPrint which provides laboratories with a high throughput food sensitivity testing solution. 

“Omega expects a modest contribution from this arrangement in the current financial year.”

Omega CEO Andrew Shepherd said: “We are pleased to have signed this agreement that enables us to broaden our food intolerance product offering in the important US market.

“We are excited by the prospects for this relationship and believe the capabilities of our chosen partner will enable us to deliver better health outcomes for patients.”